Wedbush analyst Ygal Arounian initiated GoDaddy with a Neutral rating and $85 price target, telling investors in a research note that GoDaddy is the favorite among the Neutral-rated names in his coverage. While he acknowledges that GoDaddy's domain dominance has been a strong competitive advantage for the company over the years, he says the possibility of the early stages of industry evolution, which could potentially take away that competitive advantage and the financial benefits to GoDaddy's domains strength that allowed for strong unit economics and a cost effective customer on ramp that GoDaddy would use to upsell higher priced products.